Atea, the leading provider of IT infrastructure products and services in the Nordic and Baltic regions, reports very strong revenue and profit growth in the fourth quarter, driving record high financial results for the full year 2020.
Strong revenue and profit growth
Atea's revenue in Q4 2020 was NOK 11,676 million, an increase of 14.4% from last year, with growth across all lines of business. EBIT increased by 27.1% to NOK 387 million, with increased operating profit across all countries.
For the full year 2020, Atea reported record high revenue of NOK 39.5 billion, up 7.8% from last year. EBIT increased by 14.3% to a record high NOK 854 million.
"Atea has taken a major step forward during 2020, delivering record high financial results during the pandemic," commented Atea CEO Steinar Sønsteby. "Atea's financial performance is a testament to the success of our company's business strategy and the hard work and dedication of our employees. Based on Atea's unique position and a strong IT infrastructure market, we look forward to continued growth and profit improvement in 2021 and beyond."
Turnaround in Atea Denmark
Atea Denmark reported higher revenue across all lines of business in the fourth quarter of 2020. EBIT nearly doubled from last year, based on increased sales and lower operating expenses.
Strong Cash flow and Financial Position
Cash flow from operations was an inflow of NOK 1,584 million in the fourth quarter of 2020. Atea had a positive net financial position (cash, less interest bearing debt) of NOK 1,067 million at the end of Q4 2020.
Annual dividend of NOK 5.00 per share
The Board of Atea ASA resolved to propose a dividend of NOK 5.00 per share at the next Annual General Meeting to be held on April 29, 2021. The dividend will be split into two equal payments of NOK 2.50 which will take place in May and November 2021.
The interim report and presentation are available at:
https://www.atea.com/investors/financial-reports/
A webcast of management's presentation of the financial results is available at:
https://www.atea.com/investors/financial-reports/2020/webcast-q4-20/
For further information, please contact:
Steinar Sønsteby, CEO Atea ASA, mobile (+47) 930 55 655
Robert Giori, CFO Atea ASA, mobile (+47) 934 09 188
About Atea
Atea is the leading supplier of IT infrastructure and system integration in the Nordic and Baltic regions with over 7,000 employees. Atea is present in 84 cities in Norway, Sweden, Denmark, Finland, Lithuania, Latvia and Estonia. Atea delivers IT products from leading vendors and assists its customers with specialist competencies within IT infrastructure services. Atea had revenue of approximately NOK 40 billion in 2020 and is listed on Oslo Stock Exchange. www.atea.com